These are certainly tougher times for everyone in real estate.  Competition is fierce for those who have remained in our profession.  In my field of residential appraisal, there are over 100 appraisers in my county alone, according the state of Florida's online records.

There is talk about cutting fees, lenders using management companies, and markets in California where appraisers are competing for $100 full appraisals.

These are certainly tough times.

I am a family man, father of three daughters.  I have been an appraiser for 15 years now and I plan to remain in this business.  I have had to lower fees in my areas to compete with the overwhelming number of competitors, all scratching for whatever business they can find.

I believe that in the coming year, the professionals who will not just survive - but thrive in this industry - will be those who embrace personal growth and education.  

Gone are the days of filling in some forms, plotting 3 comparable sales, and using boiler plate text comments.   These days, lenders expect appraisers to be doing what we were supposed to be doing all along....measuring the market, detailing supply and demand, calculating rates of decline, and considering not just 3 comparable sales - but pendings, listings, impact of REO sales, etc.

I have found that many appraisers who came into this business during the BOOM years really don't know what to do with this new environment.  Some have exited the industry since easy fees are no longer available.  The ones who have stayed are struggling to grasp new technology and valuation methods to accomodate the ever growing demand of more detail, now being required by lenders.

Some of us now have time for new education - but few resources to throw at education providers. 

Enter iTunes U !

Did you know you can download ITunes for FREE?  Ok....then have you explored the wealth of FREE information on ITunes?

It isn't just for downloading the latest Daughtry album or even catching up on those missed episodes of LOST.

iTunes U has a whole section of business classes from universities such as Yale, Rose State College, Missouri State University, Stanford University and even local community colleges.

There are FREE video classes on topics such as business management, marketing, advanced mathematics, and topics directly relating to our industry:

Finance, Macroeconomics, and advanced Quantitative Methods (statistics!)

And the best part of these classes?

Yes that is right.....FREE.

What will set you apart in your industry?  Is it just your experiences?  Customer service? The degrees you may or may not already have?

I believe what really sets a professional apart from the pack is a quest for personal growth and development.  We should never be satisfied to know what we know.   We should always be discovering ways to improve our businesses....and often - that means improving ourselves.

So don't procrastinate changing YOU this year.  Embrace new topics even if they are not business related.  Take a course on philosophy, literature, or social sciences.  They are all there on iTunes U for free!

Make it a productive day